As the Government opens the consultation on the proposed reduction of super tax concessions, the SMSF Association has flagged there may be ‘unintended consequences’.
Excessively generous’ tax breaks on superannuation should be wound back to improve Australia’s budget, according to Grattan Institute.
Mercer Super Trust has completed the merger with BT to create a fund with $63 billion in assets under management.
The State Street Global Investor Confidence Index (ICI) increased by 3.8 points to 81.4 in March, up from 77.6 in February.
Damian Lillicrap has departed the superannuation fund after 13 years while Andrew Fisher will step up to lead investment strategy.
The consultation paper on doubling the concessional tax rate for superannuation balances exceeding $3 million would take feedback from stakeholders until mid-April.
Two Sydney accountants have been charged with defrauding clients of $3.5 million in a self-managed superannuation fund scheme.
The chief executive of one of Australia’s major superannuation funds is to retire in May as the board moves to focus away from mergers and towards organic growth.
A ban on Jeneve Matai, head of advice for the superannuation team at National Advice Solutions, has been refused by the Administrative Appeals Tribunal.
Employers could face civil penalty actions if they fail to make superannuation payments to their staff under legislation to be introduced to Parliament this week.